b'ILPA ANNUAL REPORT 20204 5ILPA ChairQ: STEVE NELSON Q: STEVE NELSON forward to in 2021 for the What do you think will be the biggest challenge we faceWhat are you most looking as we head into 2021? industry and for ILPA?and CEO inA: NEIL RANDALL A: NEIL RANDALLWe are going to have to continue to persevere to see ourIm looking forward to the broad distribution of the vaccine way through this crisis, but it is nice to know there is someso we can have some return to normalcy and so we can Conversation: light at the end of the tunnel now.Effective communicationreturn to some personal interactions with our colleagues, and staying really coordinated as we remain remote willGPs and other partners. As the Board Chair, Im looking be important this year. Something we began in 2020 wasforwardtoseeingothermembers,sharingstoriesand hiring remotely and we plan to continue doing this intolearning and connecting in person. Im also interested to 2021. As LPs what is core to our profession is making greatsee where we land as an industry in terms of continuing decisionsaroundinvestments.Inthepastwehadtheto leverage the new technology that we adopted in 2020. THE STATE OF THE INDUSTRYluxury of doing that in person but continuing to do thatAnd lastly, Im excited to see the progress ILPA is making virtually will remain a challenge at least the first part of thison diversity, equity and inclusion. The Diversity in Action IN 2020 AND 2021 year. Virtual due diligence will also remain a priority in theinitiative is a great opportunity to celebrate those who are first half of 2021. leading the way and an opportunity to share knowledge. Q: NEIL RANDALLSteve, what do you think was the biggest challenge thatQ: NEIL RANDALLILPA and the industry as a whole faced this year? Steve, what are you most looking forward to in 2021?A: STEVE NELSON A: STEVE NELSONThe most pressing challenge that ILPA faced was how toI agree, I am really excited about the work ILPA is doing on continue to cultivate a sense of connectivity and communityDEI and think its not only an opportunity but an obligation amongmembersasweshiftedtoaremoteoperatingfor our industry to lead on this front. Were starting to see Q: STEVE NELSON environment almost overnight. To that end, Im incrediblythe power of sharing information and data to help bring What has your experience been like as ILPA Board Chairproud of the commitment of the ILPA team to membersmore organizations into the fold. Driving progress in this this year? How was last year, as both a board member andand to one another. Then more broadly as the industryarea is critical and will require a degree of vulnerability, as an ILPA member, different than it has been in the past? therewasampleopportunityfortheLP-GPrelationshippatience and persistence. But if you look at the horizon to be strained and stretched in 2020, but what we sawfor our industry, if you want it to be resilient and deliver A: NEIL RANDALL wasreallyarededicationtoproactivecommunicationssuperiorinvestmentoutcomesitsgoingtodepend From an overarching perspective, we were all managingand creative solutions. We should hold onto this spirit ofon making progress in this area.And I will add that Im through a crisis this past year, and we were doing thatpartnership in the year ahead.looking forward to the opportunity ILPA has to lead on 2020 presented unprecedentedwhilebeingunabletogettogetherinpersontoworkQ: NEIL RANDALL towe learned in terms of how toq aESG. This is an area where ILPA has a lot of scope to make challenges and unexpectedthroughit.Ontopofthat,everypersonwasdealingan impact. On a personal level, Im also looking forward to with some level of adversity in their lives both from theDo you think that any of the adaptations ILPA took in 2020seeing everyone again in person too.opportunities. ILPAs Board Chairpandemic and from the overnight adjustment to a remoteare here to stay? environment. This made for a very challenging year. From Neil Randall and ILPA CEO Stevean ILPA board perspective, it was really gratifying to seeA: STEVE NELSONthat the team still achieved so much in this environment. II certainly hope so. What Nelson sat down for a videowas really pleased with how ILPA was able to communicateengage members in a flexible, in some sense on-demand&with our members throughout the pandemic, we madeenvironment will stick in some shape or form. If you look interview reflecting on the year.sure we were out front to talk about arising issues at ourback at our major events in 2020 one of the incredible townhalls,givingmembersaforumtoaskquestions.silver linings was that participation in a virtual environment Excerpts from the conversationILPA also continued to deliver on our core offerings, suchallowed many organizations the opportunity to participate as the Members Conference, the Summits and the Legalmore easily. Its hardimagine we wont offer a hybrid are printed to the right. To listen toConference as well as launching a new offering throughvirtual environment moving forward. the European Summit. We were also able to expand our more of their conversation view thevirtual education programs, which I know we are going to build on as we go into 2021. Finally, making it a priority to full video on ILPAs website. deliver the Diversity in Action initiative was truly an exciting achievement for ILPA as well as for the GPs and LPs in our community. There were so many things to be proud of in what no doubt was a very challenging environment.'